MKT: 3 : MARKETING ETHICS

Social responsability
Social responsability
Company’s obligation to maximize its positive impact and minimize its negative impact on society.
most ethical professions
most ethical professions
nurses
gradeschool teachers
pharmacists
military officers
clergy
least ethical professions
lawyers
business executives
politicians
advertising practitioners
car salesman
lobbyists
pyramid of social responsibility
pyramid of social responsibility
Philanthropic
ethical
legal
economic
philanthropic dimension
philanthropic dimension
contribute resources to the community – improve quality of life
ethical dimension
ethical dimension
do the right thing even when you don’t have to
legal dimension
legal dimension
obey the law
economic dimension
economic dimension
be profitable – all other dimensions rest on this element
Cause-related marketing
the practice of linking products to the support of a particular cause
example of cause related marketing
American Express donates 100’s of thousands of dollars to the statue of liberty fund. Based on 1 cent for every dollar charged and 1 for every new card issued in a specific time period.
Green Marketing
Green Marketing
The development and marketing of products that do not harm the environment.
Doing well by doing good
Doing well by doing good
92 % consumers in favor of companies that support good causes and would switch to a company that support a good cause 82%
Four Step Ethical decision making framework
1. identifies issues
2. Gather information & Identify stakeholders
3. Brainstorm & evaluate “multiple right answers”
4. Choose a course of action
first phase of brain storming
Phase 1: Generate “multiple right answers” and put them “on a wall” – no judgement or discussion of ideas in the first phase
second phase of brainstorming
Discuss ideas and select the best ideas for further development and implementation